\n\u00cen acela\u015fi timp, \u0163\u0103rile zonei euro n-au reu\u015fit s\u0103-\u015fi reduc\u0103 \u015fi datoria public\u0103, ajuns\u0103 anul trecut la o medie de 92,6% din PIB, mult peste \u0163inta de 60% asumat\u0103 prin Tratatul de la Maastricht.<\/p>\n
\n\u00cen privin\u0163a economiei reale, indicele compozit Markit, realizat pe baza sondajului \u00een r\u00e2ndul directorilor de achizi\u0163ii din industrie \u015fi servicii din zona euro \u015fi considerat cel mai relevant barometru al activit\u0103\u0163ii economice \u00een timp real, a crescut \u00een aprilie la 54%, de la 53,1% \u00een martie, ceea ce \u00eenseamn\u0103 a zecea lun\u0103 de cre\u015ftere consecutiv \u015fi cel mai bun rezultat din mai 2011 p\u00e2n\u0103 acum.<\/p>\n
\nProblema care acum preocup\u0103 pie\u0163ele financiare nu mai e \u00eens\u0103 acum situa\u0163ia deficitului sau a datoriei publice, ci nivelul sc\u0103zut al infla\u0163iei, \u00eentruc\u00e2t dac\u0103 Banca Central\u0103 European\u0103 ar fi suficient de speriat\u0103 de perspectiva unei perioade de defla\u0163ie, atunci ar decide s\u0103 lanseze un program de relaxare monetar\u0103 cantitativ\u0103 dup\u0103 exemplul Rezervei Federale a SUA, ale c\u0103rei programe de acest fel au reprezentat un adev\u0103rat paradis pentru investitorii speculativi. A\u015fa se explic\u0103 num\u0103rul mare de articole din presa financiar\u0103, mai ales anglo-saxon\u0103, unde anali\u015fti ai b\u0103ncilor sau reprezentan\u0163i ai unor fonduri de investi\u0163ii \u00eencearc\u0103 s\u0103 conving\u0103 BCE s\u0103 urmeze exemplul Fed, \u00een ideea c\u0103 numai a\u015fa va putea fi evitat\u0103 defla\u0163ia. Rata anual\u0103 a infla\u0163iei \u00een zona euro a sc\u0103zut la 0,5% fa\u0163\u0103 de 1,7% cu un an \u00een urm\u0103, departe de obiecivul BCE de 2%, \u00eens\u0103 nu suficient pentru a determina BCE s\u0103 ac\u0163ioneze. Dincolo de interesele pie\u0163elor financiare, exist\u0103 \u00eens\u0103 \u015fi la v\u00e2rful zonei euro \u00eengrijorarea c\u0103 o perioad\u0103 cu infla\u0163ie foarte mic\u0103 ar putea \u00eempiedica sc\u0103derea \u015fomajului \u015fi ar face mai dificil pentru \u0163\u0103ri ca Grecia \u015fi Italia s\u0103-\u015fi reduc\u0103 datoria public\u0103.<\/p>\n","protected":false},"excerpt":{"rendered":"
Deficitul bugetar al zonei euro s-a \u00eencadrat \u00een 2013, pentru prima dat\u0103 din 2008 p\u00e2n\u0103 acum, \u00een \u0163inta de 3% din PIB, fa\u0163\u0103 de o medie de 3,7% \u00een 2012, reflect\u00e2nd duritatea programelor de austeritate al c\u0103ror cost a fost pl\u0103tit prin amplificarea \u015fomajului \u015fi cre\u015ftere economic\u0103 firav\u0103.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[16556,12992,411,188,474,19223,7931,11256,425,13242],"class_list":["post-106531","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-austeritate","tag-datorie","tag-deficit","tag-economie","tag-industrie","tag-maastricht","tag-pib","tag-somaj","tag-statistica","tag-zona-euro"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/106531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106531"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/106531\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}